GM, Payless ShoeSource and Medtronic all rose on a generally upbeat day for the markets. Williams-Sonoma shares slipped on a downbeat outlook.

The auto maker's shares rose 8% after Merrill Lynch upgraded the stock to Buy from Neutral and set a price objective of $37 per share on signs that GM's restructuring plan is moving forward. Analyst John Murphy noted that worker buyouts could "represent a significant acceleration in GM's current restructuring plan." Many...